Introduction Effective product authentication has become critical for luxury brands as counterfeit goods now account for over 60% of global seizures in the luxury sector. The counterfeit market is growing at an alarming rate of 22% annually, with luxury brands losing approximately 10% of their sales each year to fake products. According to the Global Brand Counterfeiting […]
Introduction Product transparency is now a make-or-break factor for consumers, with 63% of customers wanting to shop elsewhere after just one bad experience with a brand. This shift in consumer behavior isn’t surprising when we consider how thoroughly today’s shoppers research their purchases. 84% of consumers consider the product content experience vital to their purchasing […]
Introduction Did you know that the Universal Product Code (UPC) first appeared on a pack of Wrigley’s chewing gum in 1974? Since then, UPCs have been used for more than 50 years in all forms of commerce. Today, these familiar barcodes appear on almost everything we purchase – from egg cartons to sneakers. With the rise […]
Introduction What is SKU? Surprisingly, this simple acronym introduced in the 1930s has transformed how businesses manage inventory worldwide. Grocery stores that carried just 7,000 SKUs in 1970 now manage more than 31,000 as of 2022. SKU stands for Stock Keeping Unit – essentially a unique identifier assigned to products for inventory tracking purposes. These codes, […]
Introduction Did you know product data enrichment is now essential in a world with 30.7 million online stores, where 73% of consumers feel overwhelmed while shopping? This overwhelming digital landscape creates significant challenges for both shoppers and retailers. 70% of potential customers abandon product pages simply because information is unclear or missing. The consequences of poor product […]